Ledger Enterprise
Ledger Enterprise is the institutional B2B arm of Ledger, providing hardware-backed digital asset custody and management SaaS for exchanges, banks, custodians, asset managers, and stablecoin issuers. The platform supports 5,000+ tokens across 15 blockchains, serving 100+ enterprise clients with zero security breaches since 2019.
- Company typePrivate
- Founded2014
- HeadquartersParis, France
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What Ledger Enterprise does
Ledger Enterprise is the institutional B2B division of Ledger, the Paris-headquartered digital asset security company founded in 2014. The platform provides hardware-backed self-custody and management infrastructure for digital assets, combining proprietary hardware (FIPS 140-2 Level 3 and EAL6+ certified Hardware Security Modules), firmware, and software into an end-to-end SaaS solution. It serves exchanges, custodians and banks, asset managers, stablecoin issuers, and trading firms, with a product suite that spans wallet infrastructure, off-exchange trading (Tradelink), secure staking, tokenization, multisig governance, on-premise HSM deployment, and NFT management. The platform supports 5,000+ coins and tokens across 15 blockchains and has secured approximately 20% of the world's crypto assets and 30% of global stablecoin value with zero security breaches since operations began in 2019.
The underlying technology combines EAL6+ certified secure elements with Clear Signing technology (which eliminates blind signing by verifying transactions on a dedicated device) and a hardware-enforced policy engine for governance and multi-signature workflows. The architecture supports both cloud-managed and on-premise deployments, with the latter introduced in March 2026 to meet data-residency and regulatory requirements of regulated institutions. Integrations with Safe (for multisig), WalletConnect (for dApp access), and major blockchain protocols (Polygon, Solana, Hedera, TRON) extend the platform's surface area beyond core custody.
Ledger Enterprise monetizes through custom quote-based annual subscriptions for its SaaS platform, supplemented by hardware sales of its institutional HSMs and devices, and trading infrastructure access (Tradelink currently advertises 0% transaction fees, implying monetization through alternative mechanisms such as network access or take rates). The company has 100+ enterprise clients and operates globally from offices in Paris, New York, Portland, London, Zurich, Singapore, and Vierzon, with 650+ employees of which 70% are dedicated to R&D and engineering. As of 2025-2026, Ledger reported record revenue and is exploring a US IPO potentially valued at over $4 billion, advised by Goldman Sachs, Jefferies, and Barclays.
Ledger Enterprise firmographics
Firmographics- Name
- Ledger Enterprise
- Legal name
- Ledger SAS
- Website
- https://enterprise.ledger.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Ledger Enterprise is the institutional B2B arm of Ledger, providing hardware-backed digital asset custody and management SaaS for exchanges, banks, custodians, asset managers, and stablecoin issuers. The platform supports 5,000+ tokens across 15 blockchains, serving 100+ enterprise clients with zero security breaches since 2019.
- Ownership category
- akta.pro rank
Ledger Enterprise industry classification
Industry- Product category
- Institutional Digital Asset Custody
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- MPC / HSM / Key Management Infrastructure (FSADACAC)
- akta.pro secondary industries
- Custody Technology Platforms (Custody-as-a-Service) (FSADACAB), RWA Tokenization Platforms (asset onboarding, structuring, issuance) (FSAPAIAC), Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD), Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB), Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE)
Keywords
Where Ledger Enterprise is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices7 records
Markets served
Ledger Enterprise business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Subscription/SaaS Platform Fees: Ledger Enterprise operates as a B2B SaaS self-custody platform providing technology solutions for institutional digital asset management. Revenue derives from platform subscriptions and technology licensing.
- Transaction/Trading Fees: Tradelink offers $0 transaction fees, suggesting the platform may charge fees for trading technology services or takes a commission on trading volumes through the Tradelink network.
- Hardware Sales: Ledger sells hardware security modules and devices as part of its institutional infrastructure solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise Platform - Custom Pricing |
| Transaction based/ take rate | Pay-as-you-go | Tradelink - Zero Transaction Fees |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Ledger Enterprise product offering
Product offeringCore offering
Ledger Enterprise provides an institutional-grade B2B SaaS platform for digital asset custody, trading, staking, tokenization, and multi-signature governance. The platform combines proprietary hardware (HSMs), firmware, and software into an end-to-end security architecture, enabling banks, custodians, exchanges, asset managers, and stablecoin issuers to self-custody digital assets with policy-driven controls, Clear Signing verification, and full API-driven automation.
Product overview
Ledger Enterprise is a comprehensive digital asset infrastructure platform for institutions, combining hardware, software, and firmware security into a unified B2B SaaS solution. The core platform consists of Wallet Infrastructure for self-custody, augmented by specialized modules: TRADELINK for off-exchange trading with collateral management, Secure Staking for Proof-of-Stake networks, Tokenization for digital asset issuance, Multisig for multi-party transaction governance, and on-premise HSM for data-residency compliance. Additional offerings include NFT management via Ledger Enterprise Create and mobile transaction approval. The platform supports 5,000+ coins and tokens across 15+ blockchains, serving 100+ enterprise clients since 2019 with zero security breaches.
Differentiator
Problem solved
Functional benefit
Brands
- Ledger Enterprise Tradelink: Next Generation Crypto Trading Technology for Institutions, enabling off-exchange trading with hardware-enforced governance.
- Ledger Enterprise Multisig
- Ledger Enterprise On-Premise
Quantifiable outcome
- 20% of world's crypto assets secured
- +5 more outcomes
Companies that use Ledger Enterprise
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles2 records
Ledger Enterprise technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature6 records
Ledger Enterprise partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Chorus OnecoreInstitutional staking provider partnership enabling self-custodial, governance-ready staking for ETH, SOL, DOT, and XTZ. Institutions can earn staking rewards without transferring asset custody to third parties.
- YouHodlerminorWeb3 fintech platform partnership establishing new standard for secure Web3 finance.
- Ondo FinancecorePartnership enabling access to tokenized US stocks and ETFs within Ledger Enterprise platform. Brings tokenized equities to Ledger ecosystem.
- HAYVNminorPayment provider partnership for institutional digital asset payment services.
- UminersminorCrypto mining company partnership for security and zero-interest mining loan program.
- DeloittecoreGlobal consulting firm serving as a trusted advisor for enterprise blockchain adoption. Helps organizations define and implement web3 strategy.
- EY (Ernst & Young)coreGlobal professional services firm providing blockchain consulting and implementation services for enterprise clients.
- PwC (PricewaterhouseCoopers)coreGlobal consulting firm helping organizations with digital asset strategy and implementation.
- FigmentcoreInstitutional staking provider operating validator infrastructure for Proof-of-Stake networks. Partners with Ledger for staking services.
- CoinhouseminorEuropean crypto platform serving as distribution partner.
- CoinmotionminorEuropean crypto platform serving as distribution partner.
- Roland BergerminorGlobal consulting firm serving as referral partner for web3 adoption.
- Olivier WymanminorManagement consulting firm serving as referral partner.
Scale indicators12 records
Recent moves8 records
Expansion highlights7 records
Ledger Enterprise competitors and assessment
Company assessmentDirect peers
- Fireblocks: Fireblocks is a leading institutional digital asset custody, settlement and treasury management platform. It competes head-to-head with Ledger Enterprise on institutional self-custody, off-exchange trading (similar to Tradelink) and API-driven automation for banks, exchanges and asset managers.
- BitGo: BitGo is one of the largest qualified custodians for digital assets, offering hot, cold and custodial wallets with insurance coverage. It directly competes with Ledger Enterprise on institutional custody, staking, and trading infrastructure for exchanges, asset managers and corporate treasuries.
- Anchorage Digital: Anchorage is a federally chartered digital asset bank in the US providing institutional custody, staking and trading. It is a direct competitor in regulated institutional custody, particularly for US-based banks, asset managers and stablecoin issuers.
- Taurus Group: Taurus is a Swiss-based digital asset infrastructure provider offering custody, tokenization and issuance to banks and asset managers in Europe. It is a direct competitor in EU institutional custody, particularly for banks and large corporates needing Swiss-regulated infrastructure.
- Hex Trust: Hex Trust is an institutional digital asset custodian licensed in multiple APAC and European jurisdictions (Hong Kong, Singapore, Italy, Dubai). It is a direct peer in regulated custody-as-a-service for banks, asset managers and corporates, with similar staking and DeFi access offerings.
- Securosys: Securosys is a Swiss manufacturer of FIPS 140-2 Level 3 HSMs (Primus HSM) used in regulated financial infrastructure. It competes directly with Ledger Enterprise on hardware-backed key management for digital assets, with a comparable focus on banks and central counterparties.
- Metaco (now part of Ripple): Metaco provides institutional digital asset custody and tokenization infrastructure to banks and financial institutions. It directly competes with Ledger Enterprise on the tokenization and bank-grade custody segment, and was acquired by Ripple in 2023 to scale its institutional distribution.
- Copper.co: Copper provides institutional digital asset custody and ClearLoop off-exchange settlement, competing directly with Ledger Enterprise's Tradelink. It serves hedge funds, asset managers and trading firms seeking secured exposure to centralized exchange liquidity.
Broad incumbents
- Bakkt Holdings: Bakkt is a US-listed digital asset platform offering custody, trading and payments to institutional clients. It is a broad incumbent competitor, overlapping with Ledger Enterprise in institutional custody while also operating consumer-facing crypto and loyalty products.
- Coinbase Prime / Coinbase Custody: Coinbase Prime (formerly Coinbase Custody) is the institutional arm of the largest US-listed crypto exchange, offering custody, financing and prime brokerage. It competes broadly with Ledger Enterprise on institutional digital asset custody and trading services as part of a much wider product portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Ledger Enterprise social profiles
Digital presenceLedger Enterprise compliance and trust
Trust signalCompliance5 records
Ledger Enterprise financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ledger Enterprise leadership team
Management profileNumber of profiles
Profiles4 records
Ledger Enterprise funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ledger Enterprise M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ledger Enterprise
What does Ledger Enterprise do?
Ledger Enterprise provides an institutional-grade B2B SaaS platform for digital asset custody, trading, staking, tokenization, and multi-signature governance. The platform combines proprietary hardware (HSMs), firmware, and software into an end-to-end security architecture, enabling banks, custodians, exchanges, asset managers, and stablecoin issuers to self-custody digital assets with policy-driven controls, Clear Signing verification, and full API-driven automation.
Is Ledger Enterprise a public or private company?
Ledger Enterprise is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ledger Enterprise founded?
Ledger Enterprise was founded in 2014. It employs 501 to 1,000 people.
Where is Ledger Enterprise based?
Ledger Enterprise is headquartered in Paris, France, in the Europe region.
How does Ledger Enterprise make money?
Three revenue lines are on record. Subscription/SaaS Platform Fees are the primary driver. The others are transaction/Trading Fees and hardware Sales.
Who are Ledger Enterprise's main competitors?
Direct peers on record are Fireblocks, BitGo, Anchorage Digital, Taurus Group, Hex Trust, Securosys, Metaco (now part of Ripple) and Copper.co. Broad incumbents are Bakkt Holdings and Coinbase Prime / Coinbase Custody.
Does Ledger Enterprise have an API?
Yes. Ledger Enterprise provides a public API enabling developers to build custom integrations, automate transactions, manage digital assets programmatically, and access real-time reporting. The API supports policy-based controls, multi-authorization workflows, and full audit trails. API references and documentation are available through the developer portal at https://help.vault.ledger.com/api-documentation. An API Status page and API Change Log are maintained at https://status.ledger.com. Developer documentation is at help.vault.ledger.com/api-documentation.
What industry is Ledger Enterprise in?
Ledger Enterprise's product category is Institutional Digital Asset Custody. Its primary akta.pro industry code is FSADACAC, MPC / HSM / Key Management Infrastructure, with a secondary code of FSADACAB, Custody Technology Platforms (Custody-as-a-Service). Its NAICS code is 522320 and its SIC code is 6199.